QtrendsHong Kong sees a 36% surge in FDI inflows amid its push for financial reforms including bond futures and gold trading. The US-Iran situation remains volatile with a nuclear inspection deal in place but a retaliatory strike already underway. AI stocks suffer a second week of heavy losses as financing concerns grip the sector. Trump escalates trade tensions by threatening 100% tariffs on European imports over digital services taxes. The White House asks OpenAI to limit its next model release, boosting enterprise software stocks.
Hong Kong reported a 36% increase in foreign direct investment inflows in the first half of 2026, with 413 companies expanding or establishing operations. The city is pushing new financial reforms including bond futures and a gold trading push to strengthen its exchange. Chief Executive John Lee highlighted these efforts at the annual InvestHK reception.
The US and Iran are navigating a fragile peace agreement that grants UN inspectors access to Tehran's nuclear sites. However, the situation escalated after Trump accused Iran of violating the ceasefire in the Strait of Hormuz. The US confirmed a retaliatory strike on Iran, pushing oil prices higher in after-hours trading.
AI and tech stocks experienced another sharp sell-off, with Oracle posting its worst weekly performance since the 2001 dot-com bust. Concerns over AI financing and momentum drove declines across hardware, optical, and memory stocks. Market analysts are questioning whether the AI rally has run its course.
President Trump threatened to impose 100% tariffs on European imports if countries move forward with digital services taxes targeting US tech companies. The threat drew a muted response from European markets, with analysts noting that similar threats have been made before. The potential tariffs would target goods across European industries.
The White House reportedly asked OpenAI to limit its next-generation GPT-5.6 model release, citing unspecified concerns. OpenAI rolled out the powerful new models but with restrictions on user access. The move boosted enterprise software stocks including ServiceNow and Salesforce, as investors bet on a reduced competitive threat from AI.